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Tesla stock drops after big first-quarter deliveries miss and as China competition stiffens
- Tesla stock tumbled after disappointing first-quarter deliveries.
- The company delivered 336,000 total cars for the quarter, 13% lower than the same period last year.
- Tesla's business in China is facing increasing competition.
- Chinese competitor BYD sold 371,419 vehicles in March, while Tesla sold 78,828 EVs, marking an 11.5% drop year-on-year.
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